Sept. 22 – Hanoi-based infrastructure development firm, Cavico, became the first Vietnamese firm to list its common stocks on the United States’ NASDAQ Capital Market.
Last Friday, the firm’s shares began trading using the code CAVO. The NASDAQ is the United States’ biggest equities exchange, listing 3,200 companies in various areas like technology, retail, communications, financial services, transportation, media, and biotechnology.
“We are extremely proud to be the first Vietnamese company to be approved for listing on a U.S. national securities exchange and are gratified to have reached this significant milestone in the company’s history,” Cavico chief executive officer Bui Quang Ha said in a statement.
“Cavico has consistently communicated to shareholders its intention to obtain a listing for its securities on a U.S. national securities exchange,” he added. The company had decided that the NASDAQ Capital Market would provide the most ideal platform to enter.
The company employs more than 3,000 employees worldwide and maintains offices in Vietnam and Australia. The company specializes on large infrastructure projects like hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. It is also investing in the Vietnam market for hydro power facilities, cement production plants and urban developments.